Josh Swihart, the new CEO, was a vice president at Electric Coin for nearly five years before taking a four-month leave of absence.
Zooko Wilcox has resigned as CEO of Electric Coin Company, the company behind the privacy-focused cryptocurrency Zcash (ZEC).
On December 18, ECC announced a leadership change, with Josh Swihart promoted to replace Wilcox.
Swihart previously worked at ECC as a vice president of growth from October 2018 to August 2023 but took four months off to work as a part-time investor at Denver Angels in Colorado, according to LinkedIn.
“In determining product-market fit, opening up new partnerships and collaboration, enhancing Zcash usability, and driving adoption, we feel confident in Josh’s leadership,” ECC stated in a post on December 18.
“Josh has a strong entrepreneurial, technical, and product background, in addition to his vision for ECC and optimistic passion for Zcash,” the company continued.
According to Swihart, the company’s priorities for the upcoming months will be to improve ECC’s financial situation and expand Zcash’s usefulness through user-focused products.
In a Medium post on December 18, Wilcox, who calls himself a “human freedom maximalist,” gave a positive reflection on the time he spent creating Zcash from the ground up.
“I’ll always be thankful that I got to realize one of my science fiction dreams because it’s been an amazing experience.”
Wilcox asserted that it was best for the business and for him to separate, though. “I don’t think it’s good for Zcash, and I don’t think it’s good for me, that Zcash is being associated with me personally,” he stated.
Wilcox continued, “Zcash’s role in human history is, and will be, much bigger than any individual.”
The co-founder of Zcash acknowledged that he and Swihart had disagreed on how to best move Zcash ahead, but they never disagreed on “why.”
Wilcox will continue to serve as a director on the board of the parent company of ECC, the Bootstrap Project. Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai are also members of that board.
Launched on October 29, 2016, Zcash is a cryptocurrency and blockchain that prioritizes privacy. ECC was established in 2014, two years earlier.
Zooko Wilcox’s departure from Electric Coin marks a turning point for Zcash, leaving both the project and the wider cryptocurrency community to ponder the path ahead. Swihart’s leadership provides continuity while opening the door to new possibilities. As Zcash embarks on a new chapter, its future success will depend on its ability to maintain its core values while adapting to the ever-changing world of finance and technology.